Social Ridesharing Service Zimride Secures $1.2 Million In Funding

Social ride-sharing hub Zimride today announced a new $1.2 million round of seed funding led by FLOODGATE and joined by K9 Ventures and angel investors Teddy Downey and Keith Rabois. The company won the 2007 fbFund competition for its Carpool app which helped users find other commuters to drive with using its proprietary ride-matching algorithm. The money will be used to help Zimride expand its user base, improve user experience, and revamp their mobile application.